2013-01-04
2013-01-12
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treasury secretary. big job. he want jack lew to replace timothy geithner. lew has been a budget director for president obama and former president clinton. he also has experience with banks. the former chief operating officer for city groi group. he has a wife and two children. ali, good to see you, my friend. lew is considered a budget whiz as we were discussing yesterday. >> yeah. >> a seclude negotiator if you like. quality that will come in handy when he takes on the negotiations with congress on the debt, reining in spending. tell us what you know about his negotiating style. >> i'll tell you, the one problem is that the white house in general has not been seen as the most successful group of negotiator. being the chief of staff to president obama might be seen as a bit partisan for the job. let me tell you, four years ago, michael, the world was in a financial crisis, it all circulated around banks and credit and central banks. timothy geithner was the guy for the job. head of the federal reserve. he was in the room when they decided to let lehman brothers fail. he knew what was goi

. president obama officially nominating jack lew to head up the treasury department. shannon bream handles that for us. we will take an in-depth look at what has become an epidemic in this country. doctor robbie ludwig joins us on the psychology of what is a culture. what some call human graffiti. and secretary geithner not winning resounding support from republicans despite the fact that is budget director in the clinton administration, he presided over three straight balanced budgets. shannon bream has our report. reporter: >> i cannot think of a better person to continue then jack lew. reporter: president obama signaling plans to continue by nominating jack lew. he has handled a string of issues that has impacted the economy. >> he presided over three budget surpluses in a row. for all the talk out there about deficit reduction, making sure our books are balanced, he is a guy who did it three times. reporter: that senator jeff sessions says that jack lew is the wrong one for the job and that without newt gingrich refusing to allow more government spending, the budget achiement would nev

to become treasury secretary. thursday, obama tapped his own chief of staff jack lew to replace timothy geithner air. lew was an executive at citigroup from 2006 to 2008 at the time of the financial crisis. he served as chief operating officer of citigroup's alternative investments unit -- a group that bet on the housing market to collapse. lew has long pushed for the deregulation of wall street. from 1998 to january 2001 he headed the office of management and budget under president clinton. during that time, clinton signed into law two key laws to deregulate wall street -- the financial services modernization act of 1999 and the commodity futures monitored his asian act of 2000. on thursday, independint senator of vermont bernie sanders criticized the nomination saying -- at a press conference at the white house thursday, president obama praised the record of jack lew. >> jack has the distinction of having worked and succeeded in some of the toughest jobs in washington and private-sector. as a congressional staffer in the 1980's, he helped negotiate the deal between president reagan an

signature. this is jack lew. all signs point to president obama say i knowing him to replace tim geithner. and if he is nominated and confirmed, that will mean that our money might end up looking like this. because that is jack lew's signature on it. if he doesn't choose to tune up the legibility of the loop de loops like tim geithner did, our money mite look like this. what "new york" magazine described as a slinky that has lost its spring, republicans in washington are hinting that we won't actually have to worry about seeing jack lew's wacky signature on our money. they're saying he doesn't have to worry about changing the signature to it looks good on the money because he, jack lew, will never be the guy who has to actually sign the money. he will never be treasury secretary. politico.com today to be, quote, scoffing at the notion of jack lew as treasury secretary. mitch mcconnell is said to have been irked by mr. lew in the past. republican senator from nebraska, mike johanns called lew a controversial pick. the reasonable he is controversial is, quote, i think there are nick policie

'm chortling here because of your outrage over the $1 trillion coin matched with your outrage over jack lew, i can't figure out which is mor amusing. should we put that in the democratic party platform? >> it already is, that's what's amusing. >> very good, very good. >> let's talk about jack lew for a second. normally this position should go to somebody from the finance world. i think that, unfortunately, that's very difficult to do that because the finance world had a lot to do with the crash in 2008. but normally those are the best people for this job. for treasury. and if you look at george w. bush, his first two people were quite able, especially paul o'neill, but they did not, were not able to do the treasury the way paulson did, which helped us get out of this dreadful problem that we had that started in 2008. so it is good to have a finance person. on the other hand, i believe you're wrong about omb. jack lew's been a terrific director of omb and most importantly, he absolutely does have a lot of foreign policy experience. when you're the chief of staff to the president of the united s

to nominate jack lew to be the treasuresy secretary. joining us to discuss this are familiar faces. karl rove from texas. and joe trippi in washington. thank you for being here. i want to break down battles one-by-one. the first one getting attention is chuck hagel for defense secretary. how big of a bat doll you think this is. where do you think it will play out? >> this is the biggest of the five nomination fights we know about. maybe a vote against hagel. few republicans, none come to his defense. few republicans might vote for him. he has a contentious personal background. hard, acerbic and hard to work with. more important than that is the record on the issues. opposed to iranian sanctions. he opposed the iraq surge. defended dialogue with hamas. refused to join in a letter calling on e.u. to condemn hezbollah. he had a pejorative comment to jewish lobby. he has taken stances that indicateed he is less than supportive of the relationship with israel. >> there are two key democrats that could factor in how this goes. one is new york democratic senator schumer. >> he is staying quiet on th

of staff. joining me is kristen welker. >> i can tell you that jack lew has been the leading candidate for this spot. this is someone with experience in the white house and capitol hill. he served as an aide to former house speaker tip o'neal. director of the onb twice. and of course, the chief of staff to the white house, president obama, and has helped the president navigate tough policy issues including that fight over the fiscal cliff in which president obama what many consider a fight with republicans to increasing taxes on wealthier americans. so this is someone who president obama has a very good working relationship with. and, of course, this is a key moment. it's a critical moment to take over the spot as treasury secretary. because there are three big budget matters looming. of course, they're going to have to deal with the debt ceiling, the fiscal cliff and the all in the comes months. >> kristen, we look at the optics of this, the inner circle being all white men. what is the tone in washington especially since was the obama coalition that got obama in for a second term? >>

of these markets plus a whole lot more including the imminent nomination of jack lew as treasury secretary may mean to the debt ceiling fight. we'll previau bank earnings which are about to kick o.those more than anything else could drive the markets in the coming weeks and aig will not join in former chief hank greenberg's lawsuit against the same u.s. taxpayers that bailed the company out. aig ceo bob benmoschy will be here. >> first take a look at the markets. what we're seeing is we have the markets higher though it's well off the highs. up 90 points on the dow industrials and we're up 34 points on the dow jones industrial average, 13,363 and the last trade on nasdaq has given up some of the oomph of earlier and the standard & poor's 500 has a similar chart pattern with a gain on the session of just 1.5 point, eking out positive territory. gentlemen, good to see you. thanks so much for spending the time. >> hi, maria. how are you? >> let's talk about this market because you certainly have a fair amount of issues that could seem troubling, and yet we continue to see money finding a home in equit

, jack lew. jack lew who has one thing in common with president obama's last three presidential nominations, john kerry, chuck hagel and john brennan they are all white males. does the president have a diversity problem? hey, we'll get into that. afterall, he is the first african-american president. but first the latest out in los angeles, here she is with today's current news update, lisa ferguson. hi, lisa. good morning. >> hey bill. good morning everyone. vice president joe biden continues his talks on gun control today. he's meeting at 2:15 this afternoon with representatives from the video gaming community along with researchers who study the effects of simulated violence on young kids. last night's meeting with the hollywood entertainment industry went relatively well according to representatives at the meeting. they said the industry appreciates being included in the dialogue and looks forward to doing its part in seeking meaningful solutions. it still is not quite clear though what more washington can do to force tv shows and movies to temper the violence. >>> as for yes

to be treasury secretary. barack obama yesterday it leaked out he was going to nominate jack lew to run the treasury department. he hasn't made the official announcement but it looks like jack lew is going to take that over which means we're going to get a new signature on our flat money. because you know, the treasury secretary has a signature. bill is checking to see if he has timothy geithner's autograph there on his dollar bills. >> bill: yes. >> peter: he's got a nice, neat little signature. timothy geithner. there is a whole hubbub now over jack lew's signature. are you ready america? to see that on your flat money. if you can't see it is just a squiggly line of a signature. it looks like someone has had too much to drink and tried to draw a caterpillar. >> that's something that someone could forge very easily. >> peter: it looks kind of like a war shock test. there's jack lew's signature right there. tell me what you see. i see a butterfly. that will be very interesting to see that on your money. >> bill: but it should be noted before he came treasury secretary, timothy geithner

in washington. jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a forest hills guy like me that i, you know

'm interested in, for example, in the treasury secretary position, jack lew, you know, this is somebody who is a safe pair of hands. it's somebody who is not going to rock the boat, and i wonder if that doesn't represent kind of the hunkering down economically in a way kind of a saying, you know, we're not going to take on any new big topics. we're going to have to be battling the same -- >> you interpret that as hunkering because i think a lot of other people say -- and the "wall street journal" has plenty to say on this. team of liberal loyalists they write. "as budget director and chief of staff in the obama white house, mr. lew has been the president's most partisan and implaquable negotiator. he no doubt reflects mr. obama, but no one should think he'll emerge at his own in the treasury." >> i think you want pick garrett ginslerin. if you wanted to make big changes in jobs and investment, it would have been a more -- >> the first fight, though, is taking on congress, and that's -- >> that's a point of making. >> and one of the reasons they don't like him, so many republicans, that in 2

-time. he is talking about jack lew to be secretary of the treasury are. there is not even one controversial episode in jack lew's entire life history. but senator jeff sessions who is not even a member of the committee that will definitely vote to confirm jack lew is trying to make his confirmation controversial perhaps because he still hasn't gotten over the fact that the senate judiciary committee voted against his nomination to be a federal judge in 1986. joy read the jack lew thing it doesn't get less controversial than this. poor little jeff sessions isn't going to get to ask him questions in the hearing because he isn't on the hear. >> this is like confirmation theater. darn it they were nominated by barack obama. they have the bam of stain on them. lew's issue is his weird signature. >> right. eugene robinson. you have seen this stuff over the years. take us through what is going to happen with haegle. you have the secretary of defense. something that bill clinton did. and republicans are going no, we don't like this guy. i think what is going to happen is a lot of nose and complaini

on his chief of staff, jack lew, to fill the slot at treasury, being vacanted by secretary geithner. lew has gone before the full senate for confirmation more than once in the past four years. he hasn't gotten a no vote yet. and the president doesn't expect one now. >> jack has my complete trust. i know i'm not alone in that. in the words of one former senator, "having lew on your team is the equivalent as a coach the luxury of having somebody in almost any position and knowing he will do well." and i could not agree more. so i hope the senate will confirm him as quickly as possible. >> one thing lew may have to work on, though, if he gets the job, his signature. yes. this string of loops is actually jack lew's signature. and it's not a small thing, considering it would go on all the new dollar bills. that's the first one we would see. and frankly, a lot of currency over the next few years. >> jack assures me that he is going to work to make at least one letter legible -- [ laughter ] -- in order to debase our currency, should he be confirmed as secretary of the treasury. >> all kidding

daily run-down." >> president obama makes his pick for the top spot at treasury. is jack lew ready for a full-blown fight over the debt ceiling in his first month on the job? pocket change. you heard about this idea. the trillion dollar coin to handle the debt ceiling. well, today we will tell you where it all started and whether or not it is really something president obama might use. they won't rule it out important some reason. and back to the future. the gun debate of 1994 had many lessons for the fight unfolding today. what can president obama learn from president clinton's success? good morning from washington. thursday, january 10, 2013. this is "the daily run-down." i'm chuck todd. let's get to my first read of the morning. this afternoon president obama will formally name his chief of staff, jack lew, to replace treasury secretary tim geithner. a sign the white house expects a big fight over the federal budget lew is the safe pick. he has been confirmed twice by the senate before. just in this administration. if confirmed in time, he can face his first test next month over

obama making another cabinet pick. the president will nominate white house chief of staff jack lew to replace timothy geithner as treasury secretary. tell us about jack lew. >> jack lew is the chief of staff known as a tough negotiator, someone who the president has complete trust in. in fact, when he was announced as the white house chief of staff the president talked about the trust that he had in him, talked about how he had taken a part in helping to right the ailing economy. this is also someone who has worked in a couple of administrations as the budget chief in this administration and the clinton administration and helped to cut the 1997 balanced budget deal. so the white house sees him as someone with a lot of experience, ready to take on some of the big challenges over the treasury department as we are facing the so-called mini cliffs, the big one, the debt ceiling, something he will have to deal with right away. >> when is the formal announcement of the nomination expected and another partisan fight down the road? >> very well could be. we have been trying to nail it down

as jack lew is somebody who served as chief of staff. he was budget director before that. he served in hillary clinton's state department. he does not have a deep background and ties to wall street and business. he's a creature of congress, made his name in washington working for tip o'neal, the house speaker. very hard working, very key, very bright. republicans found him a difficult negotiators in some of the budget talks over the last couple of years, but i would expect, andrew, that he's going to be confirmed pretty handily even though he'll have difficult questions in his confirmation hearing. >> john, how disappointed -- and perhaps now, but it appears that the business community seems disappointed, if you read "the wall street journal" editorial page today. there's a sense of disappointment that the president didn't pick somebody from the business community, somebody with more experience in the world of finance private sector as joe would say. >> i understand the disappointment because they want one of theirs. but, you know, president obama wants one of his in that job. when

expected to nominate white house chief of staff jack lew later today to be the next treasury of the secretary, but if lou is confirmed he might consider sharpening that signature which will pretty much be on all u.s. currency. here it is loopy and arguably unreadable. current treasury secretary tim geithner said he had a similar problem before he took over. here it is before he took the job. and here what it looks like now. he improved his penmanship to make it easier for folks to read. i can't argue. have you seen mine? martha: it deteriorates with every passing year. bill: jack lew that --. martha: well it is the worst flu outbreak in at least a decade and doing a number on people across the country. the virus is reported in 41 states with nine states reporting high or severe levels of flu. boston's mayor says his city is under siege. he is declaring a public health emergency. the state of massachusetts reporting 18 flu-related deaths so far. the hospitals can barely contain all the people pouring into them. >> we're seeing significant rates of hospitalization, much more se

tim geithner at the treasury department. how jack lew's influence will impact your wallet. >>> plus, lance armstrong, heading to oprah. but will he confess to doping? my next guest calls it ridiculous. don't miss it. aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ and save hundreds with our best offer. get an adt security system starting at just $49 installed, but for a limited time only. that's an instant savings of $250. don't leave your family's safety to chance when you can take advantage of these savings now. call or visit adt.com/tv. both: i had a break-in. man: by the time we called the police, there wasn't much they could do. i felt so helpless. adt quickly called the police. i felt like it was over right away. feels like it's still not over. we lost our digital photos, financial records, things that insurance simply can't replace. [ male announcer ] protect yourself with the fast

decided to nominate his current white house chief of staff, jack lew to secede timothy geithner. gloria, do we expect any serious opposition? >> well, there are going to be republicans who oppose him. senator sessions, the ranching republican on the budget committee came out and said he would not support jack lew. >> because? >> because of his testimony before the deficit committee and that the budget could be reduced. he said that's evidence that jack lew should not be confirmed. particularly on these fiscal matters, he did run the office of budget during the debt ceiling negotiations and i remember from covering those debt ceiling noish ags that republicans didn't like him very much, wolf. some of them said to me that jack lew kept moving the goal posts on them. yes, there will be opposition. for chuck hagel, no. i believe in the end jack lew will get confirmed. but i'll tell you this, the reason the white house put off the announcement of jack lew until tomorrow is because of the fiscal cliff. they didn't want it to get involved in the negotiations for the fiscal cliff. they felt tha

will be nominating jack lew as treasury secretary and that that announcement is expected sometime this week. this had been widely expected, jack lew, who has worked in a couple of administrations as the budget chief. he also worked on wall street. we've done some reporting on concerns about his experience not only from those on wall street but also some progressive groups. nonetheless, the president expected to nominate someone who he has talked about as a trusted confidante, someone who has worked very hard in trying to right the ailing economy. according to this source, the president expected to nominate him to be the next treasury secretary, and that announcement expected sometime this week. >> all right. well, thank you for that, dan. and nice quick work, i might add as well. and by the way, for our audience who might not know a lot about jack lew, the white house chief of staff, there is actually a very extensive background on this man. he has been the leading contender. without further ado, have a listen to all of the things this man has done. >> reporter: jack lew is a key washington insider,

as tomorrow jack lew is going to be named treasury secretary. you got a lot of us excited because you tweeted out jack lew's signature, it's the legit signature. this is the signature that's going to be on all the u.s. currency once he takes over as they recirculate the new bills. >> that signature is more in line with him being a doctor, andrea, maybe a reporter, not a secretary of the treasury. what i would say, somebody reminded me that tim geithner changed his signature a little bit when he became treasury secretary because he's going to be on the bill. so maybe. >> let's see it again. bring that picture back, because we just showed what it would look like. that is his signature. that's jack lew. if you want to go to him -- he may be a doctor, maybe he has a ph.d. he's not a medical doctor as far as i know. it's got to be the world's worst signature, looks more like a doodle. >> i wonder how he came up with it. >> assuming that's confirmed. one more quick thing, we showed you the picture that the white house photographer took of the president and his top advisers during one of the fiscal

all cited by president obama as he nominated his chief of staff, jack lew, to be the next treasury secretary but the announcement is drawing attention to the makeup of the president's second-term cabinet. it's on track to be dominated by men. our white house correspondent brianna keilar is joining us from the white house. what is the white house saying about all of this? >> reporter: wolf, the white house has been asked about this quite a bit. white house press secretary jay carney has said that the president believes diversity is important and he's highlighted that there are a number of women serving in the white house and in the administration and indeed there are, wolf, and there's lack of topics in his cabinet. president obama choose a trusted insider to replace timothy geithner as treasury secretary. >> under president clinton, he presided over three budget surpluses in a row. so for all of the talk out there about deficit reduction, making sure our books are balanced, this is the guy who did it three times. >> reporter: jack lew, obama's chief of staff and former budget direc

get away with it. >> the president's can natural takes place. jack lew will be nominated to replace tim geithner. >> and today a team of federal investigators are focusing on why a commuter ferry slammed into a manhattan peer. people were wounded, one critically. >> people were on the ground. >> there's been an explosion in greece claiming the car booming is related to the defense ministry. >> a dozen of killer whales are trapped under sea ice. >> oscar nominations are out, "lincoln" leading with 12. >> barry bonds, roger clemmen, sammy sosa all face accusations of steroid use shut out by the baseball hall of fame. >> off the window to himself! >> turning on the channel right now. >> they clearly don't know the contact. >> all of that matters. >> hillary clinton made the first public comments after off a month dealing with a concussion and blood clot. >> i'm thrilled to be back. >> the president hosted a screening of 1600 penn with send tars who keep embarrassing the white house. as joe biden put it, why is everything looking? >>> welcome to "cbs this mor

. this at the time that president obama has picked jack lew to replace tim geithner as treasury secretary. whoever runs the jaret -- the treasury has a critical job. so far, 2013 has been marked by fighting over the fiscal could. but americans say they are looking for solutions, decisions. we have the ceo of accounting giant duch joining me from -- deloit joining me from new york. what would your message be to the new secretary, jack lew? >> my message to jack, as well as what novartis said to the president is to get on to -- what i have already said to the president is to get on with solving the fiscal cliff issue. there are some big deadline's coming up in march between sequestration and the budget resolution as well as the bigger issue around the debt ceiling. and then we need to get to the longer-term issues in terms of where america is going, and that starts with tax reform as well as immigration issues and infrastructure issues. >> i hear the same message from business people across the country. we need more certainty from washington if we're going to kick start growth in this economy. is wa

, jacob "jack" lew is said to be the president's pick to replace treasury secretary timothy geithner. that nomination is expected tomorrow. should he be confirmed by the senate, one of lew's first challenges will be dealing with the rapidly approaching debt ceiling. darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or

, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with social security, medicare and federal employee pay, is less clear. so secre

secretary-- his own chief of staff, jack lew. it was widely reported today that the announcement will come tomorrow. lew played a key role in the recent fiscal cliff negotiations with congress, and he previously headed the office of management and budget. if confirmed by the senate, lew would replace timothy geithner who's stepping down later this month. labor secretary hilda solis submitted her resignation today, after four years on the job. she made the decision public in an e-mail message. labor unions have praised solis for aggressively enforcing wage laws and job safety. business groups have complained she refused to take a more cooperative approach. american international group will not join a shareholder lawsuit over its federal bailout. a.i.g.'s directors said today they were legally obligated to consider taking part, but they opted against it. the company had faced mounting criticism since news of the suit broke. the 2008 rescue of a.i.g. cost $182 billion-- the largest of the financial crisis. all of it was paid back, leaving the u.s. government with a profit of $22 billion. vice

confidants, including jack lew, who has already held two top positions. >> i believe this man has been the architect of the obama budget policy. i believe it's very fundamentally wrong, and i do not believe he has been honest with the american people about it. >> several senate republicans have made it clear that jack lew will be a fight just as chuck hagel will be a fight, just as susan rice was a fight. the second problem for president obama is that so far his chosen bantd doesn't include any sisters, nor does it include any racial diversity. even members of his own party are expressing dismay. new york democrat charlie rangel called the lack of women embarrassing as hell and yesterday chairwoman of the congressional black caucus, marcia fudge wrote a letter urging the president to nominate two members of the cbc. bill, you are a former diverse member of the president's -- >> still diverse. >> yes. you remain diverse, though not sequestered at 1600 pennsylvania avenue, for which we are thankful. i wonder what you make about this contention that he is being too insular, a, in terms of

made by the financial crisis and the housing industry. this comes as jack lew will become the next person to be nominated into that position. we want to talk to you about timothy geithner, his legacy, his time served as the treasury secretary, and your thoughts on what he has done or not done depending on your opinion. here is how you can join us this morning. you can give us a call -- if you want to send us a twet -- @cspanwj facebook.com/cspan this is how "the new york times"highlights some of his accomplishments. it says here -- that is "the new york times." prefers to 45, your thoughts on timothy geithner as the secretary treasury. -- for the first 45 minutes, your thoughts on timothy geithner as secretary treasury. more from "the new york times." they continue to write that housing is another area his leadership has been criticized. one more bit from "the new york times." although he is mostly known for his work in the financial crisis, he is also the same minister. to europe and the debt crisis and spending hundreds of hours working. that is a bit from "the new york times." j

's here live next. and today, president obama nominates jack lew to be the next treasury secretary, geithner is going. he takes new heat why his last four cabinet nominees are all white men. da dana perino reminds us how they were mocking mitt romney's binder of women comment. and georgia in the middle of the gun debate after a mother was forced to use a gun to defend herself and her children after a burglar was breaking into the home. and we hear it in real time as police release the 911 call. >> if he opens that door, you shoot, you shoot him, you understand? ♪ you know my heart burns for you... ♪ i'm up next, but now i'm sging the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief it is! cue up alka-seltzer. it stops heartburn fast. we replaced people with a machine.r, what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. [ male announcer ] you've reached the age where

for the second term. this afternoon, he'll announce that white house chief of staff, jack lew, is his pick for treasury secretary. that means for the first time in years, all of the premier cabinet positions will be covered by money. jon karl is covering the shuffle in the white house. good morning, jon. >> reporter: good morning, george. some critics aring le inlooking emerging second-term cabinet and wondering, where are the women? today, jack lew for treasury secretary. earlier this week, chuck hagel for defense. and john brennan for cia. and before that, john kerry for secretary of state. four top appointments since the election. four men. and then, this. "the new york times" published the white house photograph wednesday, showing the president speaking with top advisers in the oval office. ten people visible, all men. and late wednesday, labor secretary, hilda solis announced e's leaving. the third woman in the cabinet heading for the exits. all this prompted "washington post" columnist, ruth marcus, to quip, it's "mad men" goes to washington, except peggy's leaving. >> it's time for

obama nominated jack lew to be his next treasury secretary. the third white male in a row selected by the president for position in his cabinet. where are the women? and the minoritys? in the cabinet of our liberal president? here is a congressman charles rangel thinks about that situation. >> it's embarrassing as hell. it could be the harvard people where people just know each other, trust each other and women and minorities don't get a chance to rub elbows. he had four years to work the bench. >> kimberly: "new york times" ran this photo showing the president with a group of all white men advising him in the oval office. the white house quickly snatched it and relesioned this 4info instead that has a much more diverse crowd of advisors. i'm with him on this. where are the women? where are the minoritys? they make every place better, right? >> bob: i'm a minority every day. >> kimberly: do you need a hug? >> eric: we have three smart women. greg got a flu shot. he has the flu. >> dana: but he has had it for three weeks. >> kimberly: another flu sandwich on top of it. >> eric: i am

about why the president would choose luke? >> well, jack lew a favorite of president obama because he has serious knowledge of the federal budgets. he has a no drama style. he has been serving this president in a very high profile capacity since president obama took office as white house chief of staff and before that as the director of the office of management and budget. lew has served as director of those two big jobs. bottom line is we are told that he is well-trusted well regarded here at the white house, shep? >> probably not a household name everywhere but well known in washington, jack lew. >> no question about that certainly with those two high profile jobs here at the obama administration over the past four years has been engaged in some tough negotiations with lawmakers on capitol hill. this photo we are showing you is from new year's eve. is he on the right wearing glasses and a blue tie. and bottom line the top republican on the senate budget committee says while he offered this prediction about the confirmation battle. >> it is a bumpy confirmation process. i think the a

of integrity, every single one of them, no scandals including the new treasury of secretary jack lew so there will be no scandal or no stupidity, wob exception there is cautious, reliable, responsible and for the most part extremely experienced. and so i give them high marks for these sorts of things. i think the way you fault a president is they are already very well-known to him, have been for a long time. a lot of them are already working for him and are probably exhausted by what is happening over the last four years. second, nobody from bismts i really think it would have been useful to have somebody from the business community. third, still very strong on the harvard, yale, princeton axis, very of the establishment of the democrat central left democratic party. and so if you wanted some freshness, if you wanted somebody outside the box, somebody who would bring something new to an administration that is already tired because of what has happened, i don't think you see that. so you see caution, safety, intelligence and experience. you don't see fresh. >> if you want die virts, i me

. if confirmed, you'll be seeing a lot more of this. that is jack lew's looping signature on every new green back that is printed. it's been described as a slinky that lost its spring. lew says he'll make his name more legible if he does get the job. >>> and vice president joe biden meets with the nra today as the debate over gun violence intensifies. it could be a tough sell since the group already says it opposes any new restrictions. among those speaking out is new york's governor. andrew cuomo is urging lawmakers in his state to close loopholes on the state's assault weapons ban. >> this is not taking away people's guns. i own a gun. i own a remington shotgun. i've hunted. i've shot. that's not what this is about. it is about ending the unnecessary risk of high capacity assault rifles. that's what this is about. >> he was quite fired up today. yesterday rather. results of a new study are sure to fuel the already intense debate over guns. the u.s. sees far more violent deaths than any other wealthy nation. due in part to the widespread possession of firearms and the practice of storing them un

, but president obama could announce his new pick for treasury secretary as soon as today. jack lew is reportedly the current's -- could be his nominee. he's currently the chief of staff, also a former budget director, as well. insiders say he's the best person to take on the many looming battles with congress that are coming up, including the battles over the debt ceiling and those pending budget cuts. if confirmed, you'll be seeing a lot more of this. that is jack lew's looping signature on every new green back that is printed. it's been described as a slinky that lost its spring. lew says he'll make his name more legible if he does get the job. >>> and vice president joe biden meets with the nra today as the debate over gun violence intensifies. it could be a tough sell since the group already says it opposes any new restrictions. among those speaking out is new york's governor. andrew cuomo is urging lawmakers in his state to close loopholes on the state's assault weapons ban. >> this is not taking away people's guns. i own a gun. i own a remington shotgun. i've hunted. i've shot. that's not

his long-time chief of staff, jack lew, to be the next treasury secretary. so far, the only huge controversy surrounding the harvard educated two-time head of omb is his signature, which has been affectionately compared to a 6-month-old less loose with a crayon. if lew is confirmed, that signature goes right on the money. >>> starting pictures dread it, baseball fans know it well, it's the call of the bullpen and it may never be the same. t-mobile handing out samsung galaxy smartphones to major league teams to replace the handset and the cord. and since the call to the bullpen itself is sponsored these days, and seemingly everything in baseball is sponsored these days, they couldn't pass up this opportunity to step boldly into the cordless future. >>> finally, the headline on the forbes website is scary. it reads, doom's day astroid bigger than expected. they're talking about a football-field-sized astroid called 99942 apophis, and while it will pass by tonight, when it comes back in the year 2029, it will pass so close, just over 30,000 miles, it's going to be visible in broad d

dominant position. >>> barack obama officially nominated jack lew to replace timothy geithner overnight. speaking from the east room of the white house, the president made it clear just why he made this move for the post. >> over the past year, i've sought jack's advice on virtually every decision i've made from economic policy to foreign policy. and one reason jack has been so ekive in this town is because he is a low-key guy who prefers to surround himself with policy experts rather than television cameras. and and to hear who has been nominated for obama's cabinet, senator john kerry to replace hillary clinton as secretary of state, jack lew to replace timothy geithner and chuck hagel to as secretary of defense. tinny, good to see you. happy new year. >> happy new year to you, too. >> nice to see you. what do you make of the reshuffle? >> well, they are not surprising choices. there's a lot of discussion about whether obama's second term means changes or continuity. i'd use another key term which is consolidation. i think his cabinet are loyalists and insiders. they'll help move forw

very good progress on key issues. >>> reaction to jack lew's nomination is predictably falling along party lines. most agree lew will be confirmed by the senate. president obama officially nominated him yesterday. he's currently chief of staff. he said he trust lew's friendship and values his judgment. we'll take a quick barack. >>> coming up on the "morning news," life follows art. a snake on a plane clings to a wing on a two-hour flight. we'll find out if there ooh's a hollywood ending when we come back on the "morning news." people don't realize that taxes and health care are connected. the affordable care act means big changes this year... when you file your taxes. i read the whole 900 pages. it literally took me weeks. i will give you a tax and health care review. i know the law. i have the solution... and i can help you figure it out. we're going to see this through together. capella university understands bright students are getting lost in the shuffle. need. and administration's work gets more complex every year. when you look at these issues, do you see problems or opportuni

control laws. >>> the president today will nominate his chief of staff jack lew to be treasury secretary. lew used to be his budget director. if confirmed by the senate he'll replace timothy dwight mer. meanwhile labor secretary hilda solis announced yesterday she will be resigning. her replacement has not been chosen yet. >>> officials say a commuter ferry yesterday just had a major overhaul. they don't know if that had any role in the accident that injured dozens of parliamentarians. jim axelrod is at the terminal in lower manhattan. jim? >> reporter: good morning, charlie. we have pictures of the ferry taken just a short while ago, being guided into a dock in atlantic highlands, new jersey, where this investigation will continue. as we say, things back to normal at the dock here, but on wednesday morning the routine took a troubling turn. the crash occurred at 8:45 a.m. as it was docking at pier 11 after a routine crossing of new york bay. >> what it did was hit the right side of the boat on the dock hard, like a bomb. >> reporter: many of the vessel's passengers were waiting. the imp

secretary. jack lew takeover of the administration's affairs for a new fight with republicans over the nation's debt. >> in the names of one former senator, having him on your team is the equivalent of having a coach of having a player to put somebody at any position and knowing he will do well. >> he has experienced on balancing budgets in the clinton administration. if confirmed, he will replace timothy geithner who led the department to the economic turmoil of the first term. as we told you on thursday, we have -- lew has been criticized for his bad current -- for his bad signature. >> the president even joked about this, saying that he consider rescinding the nomination after seeing the loopy signature. this was posted on buzzfeed. the loops. >> that is a close resemblance to his signature. it is 4:51 right now. 41 degrees. >> a huge surprise for local youth battling brain cancer. it is a story will see only on seven. >> at coming up, going on a trial. we will meet a woman who rejected cosmetics. why she says that she feels more >> good morning, everyone. i am meteorologist jac

shape as his second term begins. hilda soleis announced she will be leaving, and jack lew will be nominated to replace tim geithner. >>> a developing story north of the border, residents in canada are pleading or outside help to rescue a group of whales trapped in sea ice. right now, the mammals are gathered around a single hole in the ice. the villagers are can go the canadian government to send an ice breaker quickly top a team from the canada fishery department is expected to arrive today. >>> now, for a look at the weather. it is kind of depressing, hopefully, they fare okay. dylan dreyer is here with the weather. >> thank you, good to be back. weatherwise, the east coast enjoying a really nice january thaw. in fact by the time we get to the weekend, temperatures will be well above average perhaps as much as 20 degrees. right now, we're talking about a lot of rain and it's falling around louisiana especially. yesterday, we picked up two to three inches of rainfall across parts of eastern texas. now, that heavy rain is going to sit over louisiana, through arkansas and e

of staff jack lew as secretary of treasury. he helped balance a budget deal with congress. if confirmed lew will replace timothy geithner. and hilda solis announced she's resigning. she's leaving for california and is expected to run for board on the county supervisors. eric holder, kathleen sebelius and eric shinseki are staying on. >>> this year's flu outbreak is wiegd. it declared a public health emergency. free vaccinations are now being offered. ines ferre reports. >> reporter: the flu hasn't been this bad in boston for years, more than 700 cases have been confirmed so far and statewide 18 people have died. city health officials are preparing for it to get worse. >> in the last two weeks alone we doubled our number. if we continue this rate to see new cases, we'll have an explosion of flu in the city of boston. we really need to get ahead of this at this point in time. >> reporter: but it's not just massachusetts. cbs confirms the 48 states. >> we're seeing patient volumes and acuity levels greater than the peak of the h1n1 epidemic we had a few years ago. >> reporter: while this flu s

done and another debt ceiling site on the horizon. the white house chief of staff jack lew is the front runner now to succeed him. >> secretary of state clinton is ready to get back to work after three days in a hospital. her spokesman says she will be back on the job next week. she was treated for blood clot she suffered on sunday that stemmed from a concussion and she suffered a last month when she fell. >> the house and senate will convene a joint session of congress today and to count electoral ballots from the presidential election. a federal judge in california rejected a challenge by birthers in their latest attempt to overturn the presidency of president obama. the judge rejected a request to allow a florida man to testify about alleged inconsistencies and the typeface on the birth certificate? that the president released. the presidential inaugural committee has launched an online store. a retail store will open later this month at 1165 f street in northwest. they offer official member billion including mugs, t- shirts, blankets. for a link to the online store wjla.com. along a

ceiling. white house chief of staff jack lew is considered the front runner to take over geithner's job. >>> there was plenty of sun today, but we'd like to replace some of that cold with warmth. any chance of that happening, top? >> not really, but at least it's not record setting cold. we're finally kind of where we should be this time of year. we're looking at temperatures on the average side. temps right now are falling like a stone, 33 downtown, 27 in frederick and manassas and 29 in andrews. that's before the wind chill. we'll come back and talk about the wind chill, but for tonight clear, breezy and cold, a two to three blanket night, low temperatures in the 20s. we'll come back, talk about how cold it's going to be tomorrow with the wind and look ahead to playoff sunday. >>> in the 9 news update justin wolfe did not walk out of prison today even though his family was there and they were all hoping for him to get out. wolfe spent more than a decade behind bars convicted of hiring a man to kill a drug dealer in northern virginia, but in 2011 the case was overturned after a key wit

to nominate jack lew for treasury secretary today, so is this signature coming to a dollar bill near you today? january 10th, 2013. >>> good morning, welcome to "today" on this thursday morning. i'm savannah guthrie. >> i'm in more matt this morning. this case is pretty serious. nine states, health officials reporting a real problem in massachusetts. >> that's right. at least 18 flu related deaths so far. 700 confirmed cases in boston alone. hospitals are overrun with people complaining with flu-like symptoms coast-to-coast. we'll get the latest in a report straight ahead. and carl, after confess iing to all of us, only matt received his flu shot. we're going to do something. we're going to get a flu shot. >> i'm already thinking which arm to roll up. >> roll up that sleeve. i wore short sleeves on purpose. >>> joe biden comes face to face with members of the nra today. at the white house with details. >>> surprising punishments of some distracted drivers involved in deadly crashes are now getting, why are some of these sentences just so light. >> savannah, as you get set to head to the golden

is reportedly set to nominate his chief of staff, jack lew, to replace timothy geithner at the treasury department for obama's second term jack lew widner geithner in heading treasury after a stint on wall street, working at the financial giant citicorp between 2006 and 2010. the u.n. arab league envoy to syria has issued his strongest words to date against the regime of syrian president bashar al- assad. speaking to bbc news, lakhdar brahimi appeared to endorse al- assad's departure from government as part of any political solution in syria. >> what people are saying, it is a little bit too long. so the change has to be real. i think president assad could for what hislead an people want, rather than resisting it. >> afghan president karzai is in the u.s. for talks with president obama on u.s. troops levels in afghanistan after the withdrawal deadline of 2014. obama administration officials have recently floated troop numbers ranging from zero to 20,000 after combat operations formally come to an end. karzai kicked off his visit on wednesday by meeting a group of senators. >> the trip h

out until january 25th in the treasury, giving jack lew to confirm and i guess perfect his signature. let's see what we've learned, what does he leave for jack lew. he got the stress test done. actually, that's not correct there. let's move away from that. what we're talking about here is the -- let me go to my notes. the stimulus was done -- but sustained growth was not. frank dod basel iii was not done. aig also done. what is the geithner model? what is the geithner doctrine? i think you can say like this, overwhelming government force when it's clear it's needed. b in a crisis, spend, regulate and guarantee and do it with conviction. let's talk about one of the things left over from the geithner years, which is going to be the issue of debt and deficit. i think you would say there was some accomplishment when it came to getting some of these deals in place. but ultimately, he probably thought that some of these things would come off and be declining faster than they have. we've learned a lot about the financial crisis. in fact, we're going to be debating the correct government res

's not any one of these appointments you could look at and say well, that didn't make sense. jack lew makes sense at treasury. it made sense to replace peter orszag, gene spurling and then austin goolsby with allen krueger. you have to wonder, can it really be the case that this white house, after four very difficult years in which people are very tired, in which they're very burnt out, in which they've been worn down by endless battles with the republicans, and in which the sort of natural dynamics of group thinking in a tightly knit administration have taken over, can it really be the case if they can benefit from bringing in new people with new voices and new experiences and a fresh perspective? a lot of people i talk to, some of them former members of the administration, think at this point that it is a big problem, that at this point the president needs to get out of his comfort zone in some of these appointments particularly on the economics side and bring in folks with a new perspective. yet that's balanced by the fact that they don't think jack lew is a bad guy or going to be a bad

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